According to a report by the Boston Consulting Group, the global robotics market is projected to reach between USD 160 billion and USD 260 billion by 2023. This rapid transformation in the robotics market is also evident in Korea, with large companies and startups preparing for the impending changes.
Korean companies like Doosan, Samsung, and Hanwha have ventured into the robotics industry. Doosan Robotics Inc. focuses on developing collaborative robots, while Samsung has invested in and collaborated with RainbowRobotics to launch HUBO, the first walking humanoid robot in Korea. Hanwha recently established Hanwha Robotics Corporation, specializing in robotics business.
In addition to these large companies, numerous startups in Korea are actively looking to enter the global market. Pangyo Techno Valley, known as the leading cluster of robotics startups in Korea, is home to many of these startups.
One of them is HillsRobotics, which has partnered with an Indonesian company called Sari Teknologi to advance in the Indonesian and Asian markets. HillsRobotics stands out for its diverse range of robots in its own development, including logistics, guide, teaching, and medical service robots. The company’s technologies have garnered attention and recognition, as demonstrated by their Innovation Award at CES for three consecutive years.
PLAIF is another company that integrates artificial intelligence into industrial robots. Its artificial intelligence technology enables robots to autonomously identify products and generate relevant processes for their work, eliminating the need for vision technology or teaching programs. PLAIF was selected for the Super Gap Project Startup 1000+, which aims to foster over 1000 startups in the field of advanced technology.
EVAR, a Pangyo-based company specializing in electric vehicle charging solutions, has introduced the first autonomous charging robot for electric vehicles called Parky. EVAR has received the Innovation Award at CES in recognition of its technology and is actively working to commercialize robotic chargers in Korea.
LIVSMED, a manufacturer of laparoscopic surgical equipment, has positioned itself as a prominent medical robotics startup in Korea. With subsidiaries in the United States and Germany, LIVSMED has obtained approval to sell the multi-joint abdominal surgery device called ArtiSential and is attracting investor interest for a successful IPO.
The growth of the robotics market in Korea is evident through the involvement of both large companies and startups in the development of innovative robotic technologies. These advancements have the potential to shape the future of various industries, including healthcare, logistics, and transportation.
– BCG Report: “Robotics Outlook 2030: How Intelligence and Mobility Will Shape the Future”